Despite receiving stark criticism for his comments earlier this month, economist Vladislav Ginko stands by his claim that Russia has imminent plans to invest USD 10 billion in Bitcoin.

Ginko previously stated that the Kremlin was seeking to diversify its reserves in the face of further sanctions from the US, as the Russian government looked to devise a strategy to move away from USD dependence.

In a follow-up interview with Australian news outlet Micky, Ginko laughed at the claims that Russia had supposedly dismissed his reliability, saying, ”Who denied it? Vladimir Putin?”

Critique of his comments has not only come from Russia but from social media and blockchain news outlets alike. And with fair reasoning; Ginko’s predictions have not always come to fruition and are known for being somewhat outlandish. In November last year, he predicted a USD 2 million valuation of Bitcoin in 2019.

His claims of Russian Bitcoin investment would also fall far from the country’s official stance on the cryptocurrency, which, being largely negative with local bans, also included a fine issued for cryptocurrency advertising that took place back in August last year.

 

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